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Taking distributions from a traditional IRA

By |2020-11-21T14:19:29+00:00November 21st, 2020|Latest News|

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where knowing the fine points of the IRA distribution rules can make a big difference in

Putting the finishing touches on next year’s budget

By |2020-11-21T14:11:44+00:00November 21st, 2020|Latest News|

By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As you put the finishing touches on your company’s spending plan for next year, be sure to cover the finer points of the process. This means not just creating a budget for the sake of doing

How Series EE savings bonds are taxed

By |2020-11-12T13:44:30+00:00November 12th, 2020|Latest News|

Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put them away in a file cabinet or safe deposit box. You may wonder: How is the interest you earn on EE bonds taxed? And if

Hit the target with your email marketing

By |2020-11-12T13:42:46+00:00November 12th, 2020|Latest News|

Online retail sales have been booming during the COVID-19 pandemic. This trend has been driven not only by the buying public’s increased inclination to minimize visits to brick-and-mortar stores, but also by the effectiveness of many retailers’ virtual marketing efforts. One such effort that can benefit most any type of business is email marketing. Although

Should you go phishing with your employees?

By |2020-11-05T20:03:48+00:00November 5th, 2020|Latest News|

Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your business, customers or employees, the damage to your reputation and profitability could be severe. You’re also probably aware of the specific danger of “phishing.” This is when a fraudster sends a

Disability income: How is it taxed?

By |2020-11-03T20:37:43+00:00November 3rd, 2020|Latest News|

Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is … it depends. The key factor is who paid for the benefit. If the income is paid directly to you by your employer, it’s taxable to you as ordinary

Divorcing couples should understand these 4 tax issues

By |2020-10-28T19:11:09+00:00October 28th, 2020|Latest News|

When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even more taxing experience. Several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are

Now more than ever, carefully track payroll records

By |2020-10-28T19:09:15+00:00October 28th, 2020|Latest News|

The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some cases, rehired. There has also been crisis relief for eligible businesses in the form of the Paycheck

Inventory management is especially important this year

By |2020-10-21T17:54:56+00:00October 21st, 2020|Latest News|

As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking back on the entire year’s financials. And what a year it’s been. The COVID-19 pandemic and resulting economic fallout have likely affected your sales and expenses, and you’ve probably noticed the impact on both. However,

Buying and selling mutual fund shares: Avoid these tax pitfalls

By |2020-10-20T17:31:56+00:00October 20th, 2020|Latest News|

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without knowing it. One way this can happen is if your mutual fund allows you to write checks against your fund

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